We had mentioned in last week’s closing report that GDP growth might propel Nifty, Sensex higher. The major indices of the Indian stock markets closed on Friday with losses over previous Friday’s close. The trends in the course of the week’s trading are given in the table below:
The major indices of the Indian stock markets suffered a correction on Monday and closed with losses over Friday’s close. On the NSE, there were 853 advances, 925 declines and 313 unchanged, after opening sharply higher on the back of healthy April-June GDP.
The indices trimmed the major gains made earlier in the day, due to weak Asian markets. Globally, Asian markets traded in the negative territory on concerns of escalations in the US-China trade war. According to analysts, buying was witnessed in consumer durables, healthcare and IT (information technology) stocks.
Global software major Wipro said it had won a USD1.5 billion (10,500 crore) 10-year deal from the US-based technology firm, Alight Solutions LLC. "We have won a 10-year engagement to provide a suite of solutions and services to the Illinois-based Alight Solutions, a leader in technology-enabled...